Who Should Consider Filing Chapter 7 Bankruptcy?

Chapter 7 bankruptcy can be a powerful option for individuals who are struggling with overwhelming debt and have limited income or financial resources. It’s commonly used by people facing job loss, medical debt, divorce, or other unexpected financial hardships.

You may be a good candidate for Chapter 7 if your debts are primarily unsecured and your income is below your state’s median level. Chapter 7 is especially helpful if you’re unable to keep up with minimum payments and don’t see a realistic path to repayment.

However, Chapter 7 isn’t right for everyone. Some debts—like student loans, child support, and recent taxes—are typically not dischargeable. Additionally, certain assets may be at risk if they’re not protected by exemptions.

Before making any decisions, it’s important to understand how Chapter 7 works and how it may affect your finances, credit, and future goals. The Easy Bankruptcy Course provides clear explanations and practical guidance to help you decide whether Chapter 7 is the right solution for your situation.